Study and practice Accounting past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.
Create and set up a CBT environment with your preferred subjects.
Practice JAMB CBT with real UTME past questions in CBT format.
CB-WASSCE styled past question practice.
SSCE & GCE styled past question practice.
The production cost of a manufacturing firm is made up of
Factory wages from part of
The excess of the market value of goods produced over the cost of production is
Use the following information to answer the question below
Sales ledger balances 01/06/12------ 9,000
30/06/12------------------------------------30,000
Total for the month: Cash sales----- 10,000
Returns inwards --------------------------3,000
Cheque dishonoured-------------------- 4,000
The credit sales for the month is?
Use the following information to answer the question below
Sales ledger balances 01/06/12------ 9,000
30/06/12------------------------------------30,000
Total for the month: Cash sales----- 10,000
Returns inwards --------------------------3,000
Cheque dishonoured-------------------- 4,000
The total sales for the month is?
An organization purchased a piece of equipment for N112,000. It is expected to be used for 6 years then sold for N16,000. What is the annual amount of depreciation, if the straight-line method is used?
The cost of transporting purchased goods t0 the warehouse is charged to the
Carriage outward expenses of a business are treated in the
The prudence concept demands that
Which of the following accounts are found in the nominal ledger?
I. Advertising
ll.Motor repairs
lll. Additions to the motor vehicle
The accounting concept that provides that accounting statements should not be influenced by personal opinion is
Account payable is classified as a
The accounts of Jute Enterprise in the books of a supplier will be a
Which of the following describes a trial balance?
The effect on profit when the closing stock is understated is
The balance sheet equation shows
Discount allowed on goods invoiced at N100,000 was calculated at the rate of 20% instead of 10%. The error is corrected by debiting
A credit purchase of N200 from P. Osae was posted to the account of P. Osei. This is an error of
A suspense account is used in the
If a petty cashier has a cash float of Le 39,000 and Le 37,500 is spent, he will be reimbursed with